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2014 (9) TMI 94 - HC - Income TaxCancellation of penalty u/s 271(1)(c) – Quantum appeal kept alive by Tribunal - Whether the Tribunal is justified in cancelling the penalty levied u/s. 271(1)(c) of the Act inspite of the fact that the quantum appeal is kept alive by the same ITAT Bench – Held that:- Following the decision in Commissioner of Income Tax Versus Pravinchandra C. Parekh [2014 (3) TMI 186 - GUJARAT HIGH COURT ] - Tribunal while disposing of the appeal upholding the deletion of penalty imposed by the CIT(A) has solely relied upon the order passed by the CIT(A) on quantum of appeal and it was challenged before the Tribunal and the order was set aside and further direction was issued, the order passed by the Tribunal also deserves to be quashed and set aside and the matters are required to be remanded to the Tribunal to decide the appeal afresh – Decided in favour of Revenue.
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